Spire Wealth Management Boosts Holdings in Visa Inc. (NYSE:V)

Spire Wealth Management raised its stake in shares of Visa Inc. (NYSE:V) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 82,369 shares of the credit-card processor’s stock after buying an additional 2,915 shares during the period. Visa comprises about 0.8% of Spire Wealth Management’s portfolio, making the stock its 27th largest holding. Spire Wealth Management’s holdings in Visa were worth $22,314,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of V. Metis Global Partners LLC raised its holdings in Visa by 14.5% in the 4th quarter. Metis Global Partners LLC now owns 95,818 shares of the credit-card processor’s stock worth $24,946,000 after purchasing an additional 12,148 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of Visa by 0.8% during the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after buying an additional 40 shares in the last quarter. W.H. Cornerstone Investments Inc. grew its stake in Visa by 11.6% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,595 shares of the credit-card processor’s stock valued at $1,196,000 after acquiring an additional 478 shares during the period. Evergreen Wealth Management LLC increased its holdings in Visa by 2.5% in the 4th quarter. Evergreen Wealth Management LLC now owns 9,815 shares of the credit-card processor’s stock worth $2,555,000 after acquiring an additional 236 shares in the last quarter. Finally, Clearstead Trust LLC raised its position in Visa by 1.6% during the fourth quarter. Clearstead Trust LLC now owns 26,936 shares of the credit-card processor’s stock worth $7,013,000 after acquiring an additional 427 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last three months, insiders sold 11,724 shares of company stock worth $3,278,698. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

NYSE:V traded up $0.88 during mid-day trading on Friday, reaching $268.49. The stock had a trading volume of 3,862,018 shares, compared to its average volume of 6,930,902. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The business has a 50 day simple moving average of $278.17 and a 200 day simple moving average of $265.79. The firm has a market capitalization of $493.08 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS. On average, analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on V shares. TD Cowen initiated coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Oppenheimer upped their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group lifted their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird increased their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Barclays lifted their price target on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.